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Englewood, CO

1675 West Yale Avenue

Address:
1675 West Yale Avenue, Englewood, CO 80110
Property Type:
Multi Tenant
Price:
$1,800,000
Cap Rate:
7.27% cap
NOI:
$130,814
Square Feet:
13,483 sqft
Lot Size:
0.52 acres
Year Built:
1980
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

• This Stand Alone Property Features 13,483 Square Feet of Flex Space Situated on .52 Acres with a Gated Lot
• Masonry Construction with 17’ Clear Height, Four Grade Level Doors, and 10,483 Square Feet of Warehouse Space
• 100% Leased at Sale with 3 Tenants and 94% of the Space is on NNN Leases
• No New Construction in the Area and Market Vacancy of 1.8% Creates a Limited Supply for Businesses in Need of Flex Space (CoStar)
• Proximate to Santa Fe Drive for Easy Access to I-25

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1675 West Yale Avenue in Englewood, Colorado. The subject property consists of approximately 13,483 square feet of space and is situated on 0.52 acres of land. The asset features masonry construction with 17’ clear height, four grade-level doors, a gated lot, and 10,483 square feet of warehouse space. At sale, the subject property will be 100 percent leased with three tenants. There are new, three-year, NNN leases for Units A & B and 94 percent of the space is triple-net leased. With no new construction in the area and market vacancy of 1.8 percent, there is limited supply for businesses in need of flex space in Englewood (CoStar). The subject property is proximate to Santa Fe Drive for easy access to Interstate 25.

The City of Englewood is centrally located within the Denver Metropolitan area. Just south of Denver, Englewood is ideally situated for citizens, business people, and visitors. Englewood offers a small-town atmosphere of community with all the benefits of a larger metropolitan area nearby. Englewood is home to 1,602 businesses within industrial, manufacturing, and service sectors. Englewood has a full-time employment base of 24,800 jobs with 8,800 jobs in the industrial and commercial zoned land area. (englewoodco.gov)

A confluence of events turned Denver into one of the most active industrial markets in the country in the past decade. Robust demand in this regional market with strong economic growth this cycle is stemming from the growth of retail sales, employment, and industrial production in the metro area and the greater Colorado region. Furthermore, the emergence of the marijuana industry’s presence with the passing of Amendment 64 in November 2012 created a new demand driver this cycle, with new and relatively unsophisticated tenants operating with entirely different profit margins. Vacancies were below the long-term average even after 2019 shattered records with more than six million square feet of deliveries. Entering 2020, around 5.5 million square feet was under construction. Industrial rents are more than 60 percent above the peak of the previous cycle, one of the best performances in the nation.

Investors remained enthusiastic about Denver’s industrial fundamentals by setting a record high for sales volume for the second straight year. More than $1.7 billion worth of assets traded in 2019, more than $200 million more than the previous year. Pricing continues to climb upward, albeit at a more modest pace than in past years, according to CoStar’s Pricing Trends (CoStar).

BROKER OF RECORD
SKYLER COOPER
Colorado Broker of Record
1225 17th Street, Suite 1800
Denver, CO 80202
Tel: 303-328-2000
skyler.cooper@marcusmillichap.com
CO License: ER.100080019
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060738)